Hungary's Prime Minister outlines a New Deal vision for SMEs and state reform

In his extensive parliamentary speech on the upcoming 2027 budget, Prime Minister Magyar Péter alluded to a Hungarian New Deal, urging the business community to contribute capital to reconstruction in a transparent manner. He stressed the need to curb the disproportionate benefits that large foreign corporations and politically connected domestic oligarchs have received from state resources, while small and medium enterprises lag behind in productivity and trade.

Citing the seventh commandment “do not steal,” he framed ethical conduct as essential for revitalising the economy. The prime minister called for a clean-up of the system, insisting that entrepreneurs should only take on what they can fulfill and be compensated according to contracts. He suggested that new institutional arrangements will replace one outlet allocation practices that favour a narrow elite, aiming to restore competitiveness and reduce corruption.